Crisis investing: How 14 different asset classes performed in times of distress

History does not repeat itself, but it often rhymes. This could not be truer for crisis investing. Between China’s stockmarket and the debt troubles of Greece and Puerto Rico, it is clear that we could be entering a time of … Continue reading

KKR backs SIMEC to buy out ABG Cement; Rs 900-crore funding to help complete 5.8-million tonne unit in Gujarat

MUMBAI: Private equity heavyweight KKR is teaming up with diversified trading and commodities group SIMEC to invest Rs 900 crore to take over the cement business of debt-laden ABG Group through a complex, multi-tiered financial transaction. The much needed funding … Continue reading

Banks staring at Rs 6000-crore writeoff on loans to debt-ridden Kingfisher Airlines

Banks are staring at a possible Rs 6,000-crore writeoff on loans to Kingfisher Airlines, the biggest writeoff in Indian corporate history, as the continuing delay in resumption of services means even vulture funds are unlikely to invest in the airline. … Continue reading

FDI spells cheer for Retailers in Distress

Private equity investors Bain Capital and TPG have transferred their shares in Lilliput Kidswear to promoter Sanjeev Narula, ending a months-long public spat and helping the kidswear brand join a growing club of struggling retailers making a comeback to woo potential … Continue reading

Suzlon Energy will default on $209-million FCCB- Last minute restructuring Efforts On

Loss-making Suzlon Energy, which binged on overseas acquisitions with borrowed money during the boom years of 2005-2008, is set to default on foreign loans worth more than $200 million after offshore lenders refused to give more time for repayment. Suzlon’s … Continue reading

European Banks no different than Indian Banks in taking Distress Portfolios to market

Europe has been synonymous with distress for a few years now–but the touted opportunity is there only for those who can wait, and wait some more, investors said Thursday at the Dow Jones Private Equity Analyst Conference in New York. … Continue reading

Rise & fall of Ispat Industries – on way to merger with JSW Steel

On September 1, JSW Steel announced that it was merging JSW Ispat Steel with itself. JSW Steel had originally bought a majority stake in Ispat Industries — a steel company started by industrialist M L Mittal — in 2010, after … Continue reading

HSBC downgrades Indian stocks to ‘underweight’ from ‘neutral’

HSBC has downgraded the Indian stocks to ‘underweight’ from ‘neutral’, saying the debt crisis in Europe would be a drag on global equities, while at home India has seen no progress on fiscal consolidation or structural reforms. “The news flow … Continue reading